World Stock Indexes Trading - page 12
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Perhaps the most important fact of this employment report was the strong increase in wages, which in March grew 0.30% compared to February.
I was also expecting the same so nothing surprise in here
According to PMI, produced by HSBC, the manufacturing activity improved in March from 51.2 to 52.2. Many of the stimulus measures adopted by the Chinese authorities last year may be now starting to bear fruit.
The weakness of the dollar has led to an appreciation of Asian currencies, which removes some competitiveness to Asian companies, especially the Japanese. The Yen has been one of the currencies that most have appreciated against the dollar and Japanese exports are one of the most exposed to the US economy.
Today will start in Cernobbio (Italy), the Ambrosetti Forum, an annual event that brings together diverse personalities of the financial and business world, as the ECB Yves Mersch member, the Italian Minister of Finance Carlo Padoan, the CEO of Unicredit, among others. This type of event is always a chance to probe the feelings and perspectives of some of the main global economic actors.
Oil recorded significant gains explained by data indicating that production in the US is falling at an increasing rate and that in April the Russian production could be temporarily reduced. To this adds the cuts in Nigeria because of explosion that hit a pipeline in March and the approaching meeting of oil producers (17) in order to freeze the production.
I looks like April is the Feast of Trumpets month for the pair Eur/Usd. :-)
Retail sales and the Fed’s Beige Book will help investors and economists to reply to two interconnected issues. The first is the timing of the new rise in interest rates. The second is to know what was the pace of US economic growth during the 1st quarter. Despite the good data for March, many economists have reduced their estimates for this period.
During the last session, the euro tried to overcome the barrier of 1.14 but after a few unsuccessful attempts yesterday suffered a sharp correction. The decline of the euro was due more to technical reasons, to the extent that many operators had bought Euros and sold Dollars in recent weeks and faced with the inability of this currency pair overcoming 1.14 decided for some profit taking.
It starts today in Washington the joint meeting of the IMF and the World Bank, which will continue until Sunday. The main themes will be the state of the global economy and the situation of financial markets.
Besides the reaction to crude behavior after yesterday’s meeting of oil producers, investors will monitor the progress of the earnings season that shall gain this week higher intensity.